Diameter Capital Partners, a New York-based alternative asset manager focused on the global credit markets, has held the final close of Diameter Dislocation Fund II (DDF II) at its hard cap, with $2.2 billion of capital commitments.Â
Diameter Capital Partners (Diameter), a New York-based alternative asset manager focused on the global credit markets, has held the final close of Diameter Dislocation Fund II (DDF II) at its hard cap, with $2.2 billion of capital commitments.
DDF II received significant support from current Diameter clients and new institutional relationships, with approximately 50% of commitments coming from first-time Diameter investors.
The closed-end drawdown fund will invest globally across sectors and focus on dislocated performing credit, stressed and distressed investments emerging from either micro-cyclical dislocations or broader macro challenges. The strategy employs top-down portfolio management and bottom-up position construction. To date, Diameter has called 35% of DDF II’s committed capital.
DDF II’s predecessor vehicle, Diameter Dislocation Fund I, closed in 2021 with approximately $725 million in total commitments.
Diameter manages approximately $13 billion in assets and invests across the full spectrum of corporate credit, from new issue to distressed, via its hedge fund vehicle, drawdown dislocation funds, CLOs, CDOs, and forthcoming private credit platform.
